The importance of the Egypt-Greece GREGY electricity interconnector for Greece and Europe, and the prospect of Greece becoming a major energy hub in the south-eastern Mediteranean and the wider region, were highlighted by Giannis Karydas, chief executive of the Renewable Energy Sources and Energy Storage Unit of the Copelouzos Group and CEO of the developer and implementer of the GREGY project, at the International Symposium organised by Circular Gaia in cooperation with the Institute for Circular Economy, Environment, Energy and Climate of the European Public Law Organization (EPLO) on Friday, 9 October 2026.
Mr Karydas took part in the conference discussion on “Circular Economy, Renewables, Energy Transition and Carbon Neutrality”, alongside Environment and Energy Minister Stavros Papastavrou, Bulgarian Energy Minister Iva Petrova and EnEarth CEO Nikolaos Rigas.
The discussion was moderated by George Kremilis, EPLO’s ambassador to Bulgaria.
At the end of the first day of the International Symposium, Mr Karydas received the Excellence Award for the GREGY project from Stellina Siarapi, secretary-general for Private Investments at the Ministry of Development.
Mr Karydas stressed GREGY’s importance in strengthening the resilience of the Greek economy, particularly amid continuing geopolitical upheaval in the wider region. The project will enhance the country’s security of energy supply and energy diversification, while protecting the energy market, a key pillar of the economy, from international prices for natural gas and CO2 emissions, global demand for natural gas and geopolitical upheaval.
GREGY will be the first Africa-Europe interconnection project, carrying 3,000 MW of clean energy from Egypt to Greece and Europe. It is fully aligned with the European Union’s policy of creating north-south energy corridors and will form the cornerstone of the country’s most significant international interconnection, positioning Greece as a major energy hub in the region.
In this way, GREGY will create the South-North Vertical Corridor, linking North Africa, via Egypt, with Europe, via Greece, and serving as the southern gateway for green energy flowing from the Mediterranean to northern Europe.
As Mr Karydas noted, GREGY is not merely a national project but, in essence, a European project, with a positive impact that extends beyond Greece’s borders, strengthening Europe’s energy security and delivering a continuous supply of clean energy at competitive prices.
According to a study by a major international firm, GREGY will generate a net socio-economic benefit of more than €30 billion for Greece’s energy market over 25 years, cumulatively. This figure does not include the multiplier benefits for Greek industry, such as higher exports and the creation of new jobs.
GREGY will make Greece more attractive and establish it as a major investment destination for large-scale energy-intensive projects, such as AI data centres.
The GREGY electricity interconnector will also boost Europe’s productivity and integrate energy markets, creating greater liquidity in the market for the benefit of all consumers.
The GREGY electricity interconnector, being developed by ELICA INTERCONNECTOR, part of the Copelouzos Group, will carry exclusively clean energy generated by 8.5 GW of renewable energy projects being developed by the group in Egypt, which has vast expanses of flat, undeveloped land with strong wind and solar potential.
GREGY is a landmark project for Greece, with wide-ranging energy, environmental, economic and geostrategic benefits for the country and Europe as a whole, the announcement said.